BlackRock Investment Management LLC Reduces Stake in Manhattan Associates, Inc. (MANH)

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BlackRock Investment Management LLC lowered its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 1.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 203,261 shares of the company’s stock after selling 3,322 shares during the period. BlackRock Investment Management LLC owned about 0.29% of Manhattan Associates worth $11,712,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in MANH. Johnson Financial Group Inc. boosted its position in shares of Manhattan Associates by 139.9% in the second quarter. Johnson Financial Group Inc. now owns 2,317 shares of the company’s stock worth $149,000 after buying an additional 1,351 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in Manhattan Associates during the second quarter worth $160,000. Janney Montgomery Scott LLC purchased a new position in Manhattan Associates during the second quarter worth $201,000. First Allied Advisory Services Inc. purchased a new position in Manhattan Associates during the second quarter worth $201,000. Finally, Synovus Financial Corp purchased a new position in Manhattan Associates during the third quarter worth $224,000. Institutional investors own 99.65% of the company’s stock.

Institutional Ownership by Quarter for Manhattan Associates (NASDAQ:MANH)

Manhattan Associates, Inc. (NASDAQ:MANH) traded down 0.43% during midday trading on Thursday, reaching $54.99. 325,963 shares of the company were exchanged. Manhattan Associates, Inc. has a 52-week low of $44.14 and a 52-week high of $68.57. The firm’s 50-day moving average price is $53.10 and its 200 day moving average price is $57.22. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 33.15 and a beta of 1.15.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, October 18th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.04. Manhattan Associates had a net margin of 20.17% and a return on equity of 66.06%. The firm earned $152.21 million during the quarter, compared to the consensus estimate of $156.15 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts predict that Manhattan Associates, Inc. will post $1.84 earnings per share for the current year.

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A number of equities analysts have recently weighed in on the stock. Brean Capital reissued a “buy” rating and issued a $75.00 price objective on shares of Manhattan Associates in a research report on Wednesday, December 21st. Zacks Investment Research lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Tuesday, December 20th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $67.75.

About Manhattan Associates

Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company has three geographical segments: the Americas, Europe, Middle East and Africa (EMEA), and the Asia Pacific (APAC). It is engaged in developing, selling, deploying, servicing and maintaining software solutions designed to manage supply chains, inventory and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers and other organizations.

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